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News Roundup

This page contains an archive of the Global Newsletter summaries and the weekly fintech news roundups.


Every day the Fintech Nexus news team scours the globe for the most important stories of the day to include in our daily newsletter.


Then every Saturday we bring you our weekly news roundup of the top 10 fintech stories of the week with commentary from Peter Renton.


To join our newsletter community please subscribe here.

EuropeNews RoundupOnline LendingReal Estate
·Jan. 16, 2017

UK Investment Firm P2PGI Changing Investment Focus to Secured Loans

P2PGI will be increasing its allocation to asset-backed loans in its investment trust; the firm will primarily focus on secured real estate loans however it will also be increasing its allocation to invoice credit lending and other secured lending investments; the increased focus on secured loans follows a previous announcement on targeting UK originated loans.  Source

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FintechNews RoundupUSA
·Jan. 16, 2017

Blockchain for Supply Chain

Tracking consumer goods through the supply chain from origin to final transaction is another way blockchain is being utilized in today’s global market; with blockchain the supply process becomes less segmented and more streamlined which helps delivery efficiency; sellers can also provide detailed information on products through printed codes helping to increase confidence in consumer brands; these benefits and more are causing increased utilization of blockchain technology which is likely to lead to more widespread use by retail providers.  Source

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FintechNews RoundupUSA
·Jan. 16, 2017

CFPB Complaint Reports on Bitcoin

In the Consumer Financial Protection Bureau's complaint reports, the agency showed only seven US complaints pertaining to bitcoin in 2016; data mined by LendEDU reports four filed against CoinBase and three against Circle; nonprofit advocacy group Coin Center says 37 complaints were filed on digital currency from 2011 to 2015.  Source

 

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Asia/PacFintechNews Roundup
·Jan. 16, 2017

Bitcoin Trading Halted in China

China's major bitcoin exchanges halted trading on Friday, January 13 and the platforms are updating their trading terms; some have yet to reopen and others are operating with trading restraints, reports CoinDesk; the changes follow discussions between Chinese bitcoin exchanges and regulator People's Bank of China.  Source

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EuropeNews RoundupOnline Lending
·Jan. 16, 2017

UK Challenger Bank Secure Trust Stops Originating Personal Loans

The bank has seen behavior in the unsecured personal loan market getting out of control; lenders are trying to battle each other to offer cheaper loans in an uncertain time; Paul Lynam, chief executive of Secure Trust, said, "The competition becomes excessive; lenders tend to continue to fight for market share, which means lower pricing."; this is not the first time Secure Trust has pulled back on unsecured consumer loans; in 2006 they ceased originations only to come back in 2009.  Source

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FintechNews RoundupUSA
·Jan. 16, 2017

White House Statement of Principles on Fintech

In June 2016 the White House held the White House FinTech Summit for regulators and industry stakeholders; on January 13 the White House published a white paper on its principles titled, "A Framework for FinTech"; the paper outlines government policy objectives for fintech as well as ten principles; the white paper also outlines agency actions to date.  Source

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News RoundupOnline LendingUSA
·Jan. 16, 2017

CAN Capital Hires Advisor for Credit and Strategy Services

CAN Capital Inc. has hired an advisor to help the business after halting loan originations and releasing senior executives; Realization Services Inc. has been hired to help the firm negotiate with creditors and strategy investment banking advisor Jefferies; CAN Capital has been lending to small businesses since 1998 with $6.5 billion in loans and cash advances; near the end of 2016 the firm reported data irregularities and issues with loan performance and collections.  Source

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Asia/PacFintechNews Roundup
·Jan. 17, 2017

Robo Advisor Developing Services for Australian Superannuation Funds

Australian robo advisor SuperEd is seeking AUS$6 million (USD$4.53 million) to expand its services; the founders expect to use the funds to provide white label robo advisory services for Australian superannuation funds; the robo advisor is also developing tools for analyzing retirement income from the funds.  Source

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FintechNews Roundup
·Jan. 17, 2017

Chart of the Week: Mobile App Adoption by Financial Institutions

In a November report released by Celent and FINavigator the chart below shows mobile app adoption by financial institutions; Credit Unions have historically had greater app adoption but since 2013 banks have closed the gap in half; overall, 86% of financial institutions with over $100 million in assets have a mobile app, while adoption for institutions below $100 million is 29%.  Source

digital_banks_credit_unions_mobile_adoption

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EuropeNews RoundupOnline Lending
·Jan. 17, 2017

Landbay Receives Approval for Individual Savings Accounts

Landbay has received its individual savings account approval from HM Revenue and Customs; follows the firm's full Financial Conduct Authority authorization in December; plans to launch its innovative finance individual savings account (IFISA) in February; the IFISA will allow tax-efficient investing in the firm’s residential property loans.  Source

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